The Company announces that it has completed a placing, through WH Ireland Limited, to raise £782,500 from the issue of 195,625,000 new ordinary shares of 0.04p each (“Ordinary Shares”) at a price of 0.4p per share (the “Placing”). Application has been made for the new Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on 4 December 2009.
Following the Placing, the number of Ordinary Shares in issue will increase to 844,820,699. The funds raised from the Placing will be used for working capital purposes.
Dr Christophe Chassagnole, COO of Physiomics, said:‘We are delighted with this level of support from investors. These new funds will help us with our business strategy, reinforce the development of our technology, in addition to unlocking new potential commercial opportunities.’
Dr Christophe Chassagnole, COO
+44 (0)1865 784980
WH Ireland Limited
+44 (0) 161 832 2174